| election views? |
Mon, 05 May 2008 06:03  |
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No no, not the US election but the recent UK election that saw the Conservatives (can we still call them Tories?) regain many lost votes from 16 years ago from New Labor...
People here have been very grumpy about the past few months of the UK economy.
Will the election results make a big difference?
Is Gordon Brown / Tony Blair / New Labour to blame for the credit crunch and the never-ending rise of basic commodities, as I tend to blame the US banking and financial system, combined with hedge funds' (both US & UK) never-ending speculations that have caused much rise of commodity prices, for all of this mess. Long and messy sentence but you get the gist of it.
It's a shame that both the credit crunch and the commodity price increases happened simultaneously, as I don't feel they are totally connected. Meanwhile managed financial funds that bet big against mortgage lending did quite well (a few lucky US fund managers earned from hundreds of millions to billions of dollars in their 2007 personal income, thus less than what their firms earned), offsetting other funds that bet for mortgage lending and lost (those fund managers still earn money, albeit less if their funds lost money).
x
Mike
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